Ripple price corrected lower to $0.26 support level after facing a strong resistance. Will the XRPUSD pair extend its decline below $0.26 before it starts a fresh increase?
Ripple Price Medium-term Prediction
Yesterday, October 10, the price of Ripple (XRP) price traded to a new weekly high at $0.28 resistance level. Nevertheless, the bulls met resistance and the Ripple price resumed a downside correction below the $0.28 and $0.27 support levels. At the time of writing, the XRP is trading at the $0.26 support level.
On the upside, if more buyers emerge, the coin will face resistance at the $0.27 price level. Conversely, if the bulls fail to break the $0.27 resistance level, the crypto’ price will drop to the $0.25 price level. Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
XRPUSD Price Short-term Prediction
On the 1-hour chart, XRPUSD price is in a bearish trend. Today, the XRP price is falling, if the bearish trend continues, the market will revisit the support level of $0.25 in the short-term. However, as long as the price is above $0.26, it could bounce back above $0.27 resistance level.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
- Resistance Levels: $ 0.27, $0.28, $ 0.30
- Support Levels: $0.26, $0.25, $0.24
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.